Monday, October 24, 2022

Biotech Company Skyrockets

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see US stock futures struggled for direction on Monday. Several Chinese tech stocks tumbled (more on that below) and investors are awaiting on a new batch of earnings from some of the world's biggest companies.

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Here's a look at the top-moving stocks this morning.

Applied Genetics Corporation (Nasdaq: AGTC)

Applied Genetics Corporation is up 59.85% premarket after the biotech company announced Syncona, a leading healthcare company, has agreed to acquire AGTC for $23.5 million. Under the agreement, an indirect subsidiary of Syncona Limited will initiate a tender offer to acquire all outstanding shares of AGTC common stock.

 

JD.com, Inc, (Nasdaq: JD)

JD.com is down 15.40% premarket. The Chinese tech company fell in reaction to a consolidation of power by President Xi Jinping, after he was confirmed to a historic third term. The Hang Seng Index fell 6.4% on Monday, the biggest one-day decline since the global financial crisis.

 

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Sientra (Nasdaq: SIEN)

Sientra is up 17.24% premarket after the medical aesthetics company announced pricing of a $13.2 million public offering. Each share of common stock is being sold together with one warrant to purchase one share of common stock at a combined public offering price of $0.38 per unit.

 

Mullen Automotive (Nasdaq: MULN)

Mullen Automotive is up 18.85% premarket after the company hired former GM Executive John Schwegman to oversee electric vehicle growth. Schwegman was responsible for Chevrolet's core electric vehicle prioritization. His primary focus will be on the growth strategy for Mullen's lineup of commercial EV's, which include trucks and vans.

The EV sector continues to produce some of the biggest premarket stock movers. And our friend Andy Snyder has his eyes on an up-and-coming Electric Vehicle company he believes could overtake Tesla one day.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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